"10·11" Apocalypse: The Evolutionary Logic of Crypto Ecosystem Paradigms and Digital Civilization Order
We hope that blockchain and web3 can help AI computing power networks establish order, yet they are unable to maintain order within themselves.
Author: EcoFi m&W Initiator Jerry
Once again, the crypto world is awash in blood. This is not the first time, nor will it be the last—if the crypto ecosystem paradigm cannot iterate, such events will continue to happen.
Attributing the cause to market behavior triggered by Trump’s tariffs is not rigorous, because the feedback from traditional financial capital markets and the $1.93 billions liquidation caused by the crypto market crash are of different magnitudes—the crypto world has triggered the largest liquidation in history.
The root cause lies in the zero-sum game nature of crypto speculation—manipulating oracle prices based on computing power only requires precise timing. Just as humanity has failed to learn from the lessons of history over the ages, the crypto world has not learned much from more than a dozen painful past experiences.
This is a warning sign—we hope that blockchain/web3 can help AI computing power networks establish order, yet we cannot even safeguard our own order.
Since the DeFi Summer of 2020, there have been several new narratives in the crypto ecosystem, but in reality, the construction of the crypto ecosystem has stagnated—if tracks like DEX and DePin could achieve significant development, a crypto trading ecosystem based on decentralized oracle networks could establish long-term solutions.
We chose this historically significant crypto bloodbath as an opportunity to write this article, hoping to seek consensus within the crypto ecosystem—how to promote the evolution of the crypto ecosystem paradigm to support blockchain/web3 in helping AI computing power networks establish order.
1. The crypto world needs to evolve from a zero-sum game to capital allocation that empowers real industries (the crypto market empowering the web3 industry). We discussed this in the 2023 topic of how Hong Kong can become a global crypto center. For Hong Kong to become a global crypto center, it must resolve the contradiction and unity between "financial speculation and capital allocation" in the crypto economy—focusing on "financial speculation and capital allocation" to leverage DeFi and crypto capital to empower the web3 industry, achieve the development of native web3 technology application markets, and promote the integration of crypto economy virtual assets with the real-world financial system. For more information, see "Why Hong Kong Has Little Chance of Becoming a 'Global Crypto Center'".
2. We need to aggregate outstanding practitioners in the crypto ecosystem and help them find like-minded friends in the speculative environment of the crypto world. The operational foundation of this community is that the crypto ecosystem has already accumulated enough quality content, and practitioners select good articles that align with their own philosophy for their use—they do not have to write articles themselves, but they must have the ability to discern quality articles.
3. Co-build EcoFi (Ecological Finance) with outstanding practitioners in the crypto industry, and fully leverage the Token mechanism based on a sufficiently large community of crypto practitioners to achieve efficient cooperation within the crypto ecosystem.
4. On the basis of the above conditions, incubate "AI + blockchain/web3", and establish order in AI computing power networks from the bottom up through the practical implementation of one project after another.
Of course, there is another possibility: Satoshi Nakamoto returns, or a Satoshi-level creator emerges, establishing order for AI computing power networks from the top down. Only Satoshi Nakamoto and the early Bitcoin fundamentalists have the ability to design from the top level and practice establishing order for intelligent networks using blockchain. Only in this way can everything be foolproof—even if we will still strive tirelessly to promote the bottom-up progress of "AI + blockchain"... For details, see "At the Initiation of m&WDAO: We Need Satoshi Nakamoto".
In the article "We Need Satoshi Nakamoto", we mainly discussed the urgency—because the exponential growth of AI computing power gives us a limited time window. However, based on the opportunity of writing this article, it is necessary to further discuss the logic of computing power, order, and the evolution of human civilization.
If we quantify the course of human history in millennia, we have experienced dramatic regime changes and institutional updates, but the civilization system of people and society has not made significant progress; but in the evolution of humanity over tens of thousands of years, we can touch upon a question close to the origin of humanity—how did our ancestors, lacking claws and fangs, lacking strong muscles and bones, survive in a jungle ruled by "combat power", and create the highest level of dominance and destructive power above mere survival in the Earth's biological chain; then, in the coming decades, we will face the ultimate question of humanity's future—how will we coexist with AI in a digital civilization where "computing power" reigns supreme?
Let us encourage each other with practitioners in the crypto ecosystem. This may be our opportunity, even if there will be many difficulties.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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